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Ask An Economist: How to Lower Inflation | GZERO World

Ask An Economist: How to lower inflation

US inflation is now at a 40-year high. So, what are we going to do about it?

That depends on where you think the problem is coming from, American economist and University of Chicago professor Austan Goolsbee says on GZERO World with Ian Bremmer.

If inflation is being driven by too much stimulus, like some economists such as Larry Summers believe, Goolsbee believes the Federal Reserve is doing the right thing by raising interest rates to cool demand. But if inflation is mostly due to the war in Ukraine or supply chain disruptions, rate hikes might result in stagflation.

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Trump & Biden Spent Too Much On COVID Stimulus, Says Austan Goolsbee | GZERO World

Trump & Biden spent too much on COVID stimulus, says Austan Goolsbee

The brief recession the US economy experienced during the pandemic was arguably the weirdest one ever.

Why? Because it was "an unprecedentedly steep downturn [followed by] an unprecedentedly rapid comeback," says economist and University of Chicago professor Austan Goolsbee tells Ian Bremmer on GZERO World.

What's more, that recession was driven by less demand for theoretically recession-proof services instead of stuff like goods and real estate.

And then there was the government response.

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When High Inflation Meets High Job Rates | GZERO World

When high inflation meets high job rates

We live in odd economic times.

Polls show Americans now feeling so glum about the economy, yet okay about their individual finances?

Why? It's the unemployment, stupid, economist and University of Chicago professor Austan Goolsbee tells Ian Bremmer on GZERO World.

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Power to the Workers? What Historical Trends Suggest About Newfound Employee Influence | GZERO World

Power to the workers? What historical trends suggest about newfound employee influence

During the initial stages of COVID, Americans responded to shortages of basic items by making them domestically.

That's a blip that'll likely end once the economy (really) goes back to normal, says economist and University of Chicago professor Austan Goolsbee.

"Why," he asks Ian Bremmer on GZERO World, "do we have a giant warehouse full of socks that we made here that we could buy on the open market for one third the price, and we could just have shipped here when we need them?"

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Podcast: Making sense of global inflation, looming recession, & economists who disagree

Listen: Did US inflation come from supply, or did it come from demand? On the GZERO World podcast, Ian Bremmer speaks with economist and University of Chicago professor Austan Goolsbee about the causes of the current high levels of inflation in the US and around the world. If inflation is being driven by too much stimulus, as economists like Larry Summers believe, Goolsbee believes the Federal Reserve is doing the right thing by raising interest rates to cool demand. But if inflation is mostly due to the war in Ukraine or supply chain disruptions, rate hikes might result in stagflation.

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